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Complete worksheet; prepare financial statements, closing entries, and post-closing trial balance. (LO 1.2.4) The adjusted trial balance columns of the worksheet for Thao Company, owned

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Complete worksheet; prepare financial statements, closing entries, and post-closing trial balance. (LO 1.2.4) The adjusted trial balance columns of the worksheet for Thao Company, owned by D. Thao, are as follows. THAO COMPANY Worksheet For the Year Ended December 31, 2017 Account Titles Account No. 101 Cash 112 126 130 Adjusted Trial Balance Dr. Cr. 5,300 10.800 1,500 2,000 27.000 5,600 15,000 6,100 2.400 600 157 158 200 201 212 230 13,000 301 Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Salaries and Wages Payable Interest Payable Owner's Capital Owner's Drawings Service Revenue Advertising Expense Supplies Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Interest Expense Totals 7,000 306 61,000 400 610 631 711 8,400 4,000 5,600 3,500 28,000 600 722 726 905 103,700 103,700 Instructions (a) Complete the worksheet by extending the balances to the financial statement columns Net income $10.900 (b) Prepare an income statement, owner's equity statement, and a classified balance sheet. (Note: $5,000 of the notes payable become due in 2018.) D. Thao did not make any additional investments in the business during the year. Current assets $19.600 Current liabilities $14,100 (@) Prepare the closing entries. Use J14 for the journal page. (d) Post the closing entries. Use the three-column form of account. Income Summary is No. 350. . . Prepare a post-closing trial balance. Post-closing trial balance $46.600

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